Gilat Satellite Networks Awarded approximately $4 Million Contract to Provide Connectivity for rural areas in Latin America
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has secured a $4 million contract to provide rural connectivity in Latin America for a period of 3 years. The company will offer critical connectivity for banking transactions and support services in remote areas.
Gilat's satellite communications solutions will ensure connectivity and business continuity for distant bank branches, covering core banking, e-mail, security, ATMs, and Point of Sale operations. The company's robust satellite network, enhanced with the latest technological advancements, meets high-quality standards required for business continuity in remote areas and during potential disasters.
Ron Levin, Gilat's Chief Commercial Officer, expressed satisfaction in supporting essential banking services in rural Latin America.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) ha ottenuto un contratto di 4 milioni di dollari per fornire connettività rurale in America Latina per un periodo di 3 anni. L'azienda offrirà connettività critica per transazioni bancarie e servizi di supporto in aree remote.
Le soluzioni di comunicazione satellitare di Gilat garantiranno connettività e continuità operativa per le filiali bancarie lontane, coprendo servizi di core banking, e-mail, sicurezza, sportelli automatici e operazioni di Punto Vendita. La rete satellitare robusta dell'azienda, potenziata con le più recenti innovazioni tecnologiche, soddisfa elevati standard di qualità necessari per garantire la continuità operativa in aree remote e durante potenziali disastri.
Ron Levin, Direttore Commerciale di Gilat, ha espresso soddisfazione nel supportare servizi bancari essenziali nelle zone rurali dell'America Latina.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) ha conseguido un contrato de 4 millones de dólares para proporcionar conectividad rural en América Latina durante un período de 3 años. La empresa ofrecerá conectividad crítica para transacciones bancarias y servicios de soporte en áreas remotas.
Las soluciones de comunicaciones por satélite de Gilat garantizarán conectividad y continuidad empresarial para las sucursales bancarias distantes, cubriendo servicios de banca fundamental, correos electrónicos, seguridad, cajeros automáticos y operaciones de Punto de Venta. La sólida red satelital de la compañía, mejorada con los últimos avances tecnológicos, cumple con los altos estándares de calidad requeridos para la continuidad del negocio en áreas remotas y durante posibles desastres.
Ron Levin, Director Comercial de Gilat, expresó su satisfacción por apoyar servicios bancarios esenciales en las zonas rurales de América Latina.
길랫 위성 네트워크 (Nasdaq: GILT, TASE: GILT)는 4백만 달러 계약을 체결하여 라틴 아메리카3년 동안 제공하기로 했습니다. 이 회사는 외딴 지역에서 은행 거래와 지원 서비스를 위한 중요한 연결성을 제공합니다.
길랫의 위성 통신 솔루션은 먼 지점의 은행 지점에 대한 연결성과 업무 연속성을 보장하며, 핵심 뱅킹, 이메일, 보안, ATM 및 판매 시점 운영을 포함합니다. 회사의 강력한 위성 네트워크는 최신 기술 혁신으로 강화되어 원격 지역 및 잠재적인 재해 발생 시 비즈니스 연속성에 필요한 높은 품질 기준을 충족합니다.
론 레빈, 길랫의 최고 상업 책임자는 라틴 아메리카의 농촌 지역에서 필수 은행 서비스를 지원하게 되어 기쁘다고 말했습니다.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) a obtenu un contrat de 4 millions de dollars pour fournir une connectivité rurale en Amérique Latine pendant une période de 3 ans. L'entreprise proposera une connexion critique pour les transactions bancaires et des services d'assistance dans les zones reculées.
Les solutions de communication par satellite de Gilat garantiront la connectivité et la continuité des affaires pour les agences bancaires éloignées, couvrant les services bancaires de base, les courriels, la sécurité, les distributeurs automatiques et les opérations de Point de Vente. Le réseau satellite robuste de l'entreprise, renforcé par les dernières avancées technologiques, répond aux normes de qualité élevées nécessaires pour la continuité des affaires dans les zones isolées et en cas de catastrophes potentielles.
Ron Levin, Directeur Commercial de Gilat, a exprimé sa satisfaction de soutenir des services bancaires essentiels dans les zones rurales d'Amérique Latine.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) hat einen Vertrag über 4 Millionen US-Dollar gesichert, um die ländliche Konnektivität in Lateinamerika für einen Zeitraum von 3 Jahren bereitzustellen. Das Unternehmen wird kritische Konnektivität für Banktransaktionen und Unterstützungsdienste in abgelegenen Gebieten anbieten.
Die Satellitenkommunikationslösungen von Gilat werden die Konnektivität und Geschäftskontinuität für entfernte Bankfilialen sicherstellen und dabei Kernbankdienstleistungen, E-Mail, Sicherheit, Geldautomaten und Point-of-Sale-Operationen abdecken. Das robuste Satellitennetzwerk des Unternehmens, das mit den neuesten technologischen Fortschritten ausgestattet ist, erfüllt die hohen Qualitätsstandards, die für die Geschäftskontinuität in abgelegenen Gebieten und während potenzieller Katastrophen erforderlich sind.
Ron Levin, Chief Commercial Officer von Gilat, drückte seine Zufriedenheit darüber aus, dass er essentielle Bankdienstleistungen in ländlichen Gebieten Lateinamerikas unterstützt.
- Secured a $4 million contract for rural connectivity in Latin America
- Contract duration of 3 years, providing steady revenue stream
- Expanding presence in the Latin American market
- Providing critical connectivity for essential banking services in remote areas
- None.
Insights
The
The 3-year duration of the contract provides a degree of revenue stability and visibility for Gilat in the Latin American market. This aligns with the company's strategy to expand its presence in emerging markets and diversify its revenue streams. The focus on rural connectivity and essential services like banking transactions positions Gilat in a potentially growing niche market.
While the contract value is not substantial enough to significantly alter Gilat's financial outlook, it does demonstrate the company's ability to secure long-term deals in competitive markets. Investors should view this as a positive indicator of Gilat's market position and product offerings, but should not expect a material impact on the company's near-term financial performance.
Gilat's contract to provide rural connectivity in Latin America highlights the ongoing importance of satellite technology in bridging the digital divide. The company's focus on critical services such as banking transactions and support for underserved populations demonstrates the practical applications of satellite communications beyond traditional internet access.
The provision of both primary connectivity and satellite backup links for bank branches underscores the reliability and resilience of Gilat's technology. This dual-purpose approach ensures business continuity, which is important for financial institutions operating in remote areas prone to infrastructure challenges or natural disasters.
From a technological standpoint, Gilat's mention of "continuously enhancing it with the latest technological advancements" suggests an ongoing investment in R&D to maintain competitiveness. This is essential in the rapidly evolving satellite communications industry, where new technologies like LEO constellations are emerging. Gilat's ability to secure contracts for critical infrastructure indicates that its solutions remain relevant and competitive in the market.
PETAH TIKVA, Israel, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it has secured approximately
Gilat provides critical connectivity for people living in remote areas who rely on the bank for payment services, as well as support services for senior citizens, families, and other underserved populations.
Gilat provides satellite communications solutions to distant branches, as well as satellite backup links, to ensure connectivity and business continuity. This is critical for the bank’s operation for core banking, e-mail, security, ATMs and Point of Sale.
“We are very pleased to support essential banking services in the rural areas of Latin America,” stated Ron Levin, Gilat’s Chief Commercial Officer. “Over the years, we have built a robust satellite network, continuously enhancing it with the latest technological advancements. This ensures that we consistently meet the high-quality standards required for business continuity, even in remote areas and in the face of potential disasters.”
About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.
Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.
Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah and Iran; and other factors discussed under the heading “Risk Factors” in Gilat’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Gilat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Gilat Satellite Networks
Hagay Katz, Chief Products and Marketing Officer
Hagayk@gilat.com
EK Global IR
Ehud Helft, Managing Partner
ehud@ekgir.com
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